CONFIRMED: Arsenal, Man Utd, Liverpool and Man City MISS OUT on Diego Simeone

The 44-year-old, who took over Los Rojiblancos in 2011, has signed a new five-year contract with the reigning La Liga champions.

In a statement on their official website, Atletico confirmed the former Argentina star had penned a new deal at the Vicente Calderon.

"Diego Pablo Simeone and Atletico Madrid have reached an agreement to extend the contract of Argentine coach our club five seasons," the statement read.

"The signing of the contract that will bind to Simeone until June 2020 was announced Tuesday in a ceremony that took place in the VIP room of the Vicente Calderon stadium and attended by Enrique Cerezo, president of the club ; Miguel Ángel Gil Marín, chief executive of the entity ; Jose Luis Perez Caminero, Atletico sporting director ; and Diego Pablo Simeone."

NEW DEAL: Diego Simeone has signed a new five-year deal with Atletico Madrid [GETTY]

“Diego Pablo Simeone and Atletico Madrid have reached an agreement to extend the contract of Argentine coach our club five seasons”

Atletico Madrid CF

Simeone's contract extension will be a big blow to Arsenal, Manchester United and Liverpool.

The trio were believed to have taken a look at the Atletico chief, who guided the club to the Champions League final last season.

However, the news will be an even bigger loss to reigning Premier League champions Manchester City.